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Defining “Context” with Institutions as Fuzzy Rule Bases

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ABSTRACT
We propose considering an institutional context as a fuzzy control system, and, thereby, the role of any given institution to be akin to a database of fuzzy rules. We develop this analogy for a hierarchical institutional system and provide an overview of the method for designing the database structure using a hierarchical system of linguistic rules. This, we submit, is as an interesting way of looking at institutional development with nested institutions.
 
Cite this paper
Goorha, P. and Potts, J. (2015) Defining “Context” with Institutions as Fuzzy Rule Bases. Theoretical Economics Letters, 5, 14-18. doi: 10.4236/tel.2015.51003.
 
References
[1]North, D.C. (1990) Institutions, Institutional Change and Economic Performance. Cambridge University Press, Cambridge. http://dx.doi.org/10.1017/CBO9780511808678
 
[2]Williamson, O.E. (2000) The New Institutional Economics: Taking Stock, Looking Ahead. Journal of Economic Literature, 38, 595-613. http://dx.doi.org/10.1257/jel.38.3.595
 
[3]Rodrik, D. (2008) Second-Best Institutions. American Economic Review, 98, 100-104. http://dx.doi.org/10.1257/aer.98.2.100
 
[4]Kandel, A. and Langholz, G. (1993) Fuzzy Control Systems. CRC Press, Boca Raton, FL, USA.
 
[5]Tsebelis, G. (1995) Decision Making in Political Systems: Veto Players in Presidentialism, Parliamentarianism, Multicameralism and Multipartyism. British Journal of Political Science, 25, 289-325. http://dx.doi.org/10.1017/S0007123400007225                  eww150129lx
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